JPMorgan Chase CEO Jamie Dimon says financial markets resemble the period just before the 2008 global financial crisis.
At the bank’s Company Update 2026 in New York, Dimon said he’s seeing growing complacency around high asset prices and volumes.
“Unfortunately, we did see this in ’05, ’06 and ’07, almost the same thing. The rising tide lifting all boats, everyone was making a lot of money, people leveraging to the hilt. The sky was the limit…
My own view is people are getting a little comfortable that this is real. These high asset prices and high volumes – that we won’t have any kind of problem whatsoever.”
Dimon, who plans to remain CEO for a few more years, also highlighted intensifying competition from returning rivals.
“All of our main competitors are back in the United States, in Europe. The Japanese are back. I mean, everyone’s back. It’s good for the world, et cetera.
I don’t know how long it’s going to be great for everybody. I see a couple of people doing some dumb things.”
The event’s yearly overview presentation listed elevated asset prices as a key macro risk.
JPMorgan Chase projects 2026 net interest income of approximately $104.5 billion and firm-wide technology spending of $19.8 billion, a roughly 10% increase from 2025.
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